As a global provider of networking systems, Cisco serves as a valuable bellwether of economic activity.

It's worth noting that Cisco's operations in China have more to do with industry-specific woes rather than broader economic trends.

"Cisco executives have publicly blamed the company's disappointing results, in part, on disclosures about surveillance activities by the National Security Agency, which they say worry Chinese customers," said CNBC's Mark Berniker and Josh Lipton.